EXHIBIT 11
OGDEN CORPORATION AND SUBSIDIARIES
DETAIL OF COMPUTATION OF EARNINGS APPLICABLE TO COMMON STOCK
FOR THE NINE MONTHS FOR THE THREE MONTHS
ENDED ENDED
SEPTEMBER 30, SEPTEMBER 30,
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1997 1996 1997 1996
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(In Thousands)
NUMBER OF SHARES USED FOR COMPUTATION OF
EARNINGS PER SHARE:
Average number of common shares 49,951 49,642 50,048 49,705
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NUMBER OF SHARES USED FOR COMPUTATION OF
EARNINGS PER SHARE ASSUMING FULL DILUTION:
Average number of common shares 49,951 49,642 50,048 49,705
Shares issuable for conversion of preferred
stock 278 291 272 287
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Number of shares used for computation 50,229 49,933 50,320 49,992
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COMPUTATION OF EARNINGS APPLICABLE TO COMMON
SHARES:
Net income $55,391 $46,564 $24,605 $20,388
Less: dividends on Ogden preferred stock (115) (121) (38) (40)
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Consolidated income applicable to Ogden common
stock $55,276 $46,443 $24,567 $20,348
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COMPUTATION OF EARNINGS APPLICABLE TO COMMON
SHARES-ASSUMING FULL DILUTION:
Net income $55,391 $46,564 $24,605 $20,388
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Note:
Earnings per common share was computed by dividing net income, increased
(decreased) for adjustments arising from minority interest in consolidated
subsidiaries, reduced by preferred stock dividend requirements, by the weighted
average of the number of shares of common stock and common stock equivalents,
where dilutive, outstanding during each period.
Earnings per common share, assuming full dilution, was computed on the
assumption that all convertible debentures, convertible preferred stock, and
stock options converted or exercised during each period, or outstanding at the
end of each period were converted at the beginning of each period or at the date
of issuance or grant, if dilutive. This computation provides for the elimination
of related convertible debenture interest and preferred dividends.